2023 Real Estate Observations (Boston, Weymouth, Duxbury: tax lien, materials, neighbors)

[robr2]

Originally Posted by MtPleasantDream

If you go out to work every day, maybe it’s not a big concern. That property seems to have a decent land lot and is close to a park.
Some people actually hate frequent chitchats and want some physical barrier from neighbors.
However, being close to a main road is not ideal for young children.

That is what I was getting at - houses on busy streets seem to prevent social interaction especially for kids.

[matrix5k]

Originally Posted by Iced_Coffee

For perspective, remember that $450k is approximately 16% over the asking price (2.725M). That scales to $144k over asking price on a $900k home, which is clearly common around here, as evidenced by the constant "over list" closings posted in this thread.

Also, a gentle reminder that asking price is not relevant to the sale price or the actual value of a house. It's just a marketing tool, typically aimed at targeting the largest pool of buyers.

Shhh you can't use logic here! People like to post 3mil homes and say "I can't believe this sold for 100-300k over asking! I would never pay that much! They will be in a world of hurt!" It sounds way more dramatic than "this house sold for 16% over asking!" when homes under 700k routinely sell for a higher percentage.

[matrix5k]

Originally Posted by msRB311

I think it's BS that people don't think asking price is relevant. A sale price is typically an estimate based on the other homes around it.

I also don't know what difference it makes. Seeing people pay 100k over asking does not indicate a normal real estate market.

It's not BS. Homes are listed lower on purpose.

[msRB311]

I guess some people also like vintagey things. I love older homes. There's lots of homes down this way that go as far as back as the 1600/1700's. There are more and more new homes going up and sometimes i'm like wow my 1960's built home is old...but then I think of how ridiculous that sounds when there are homes hundreds of years older than mine in the area.

[Iced_Coffee]

Originally Posted by msRB311

This house sold for 750k and I have to say I like this house better than the one that sold for 835k. The backyard doesn't look great but it still has the privacy provided by the woods. I overall just like this house better.

This one also nice which sold for less than the 835k one:

https://www.zillow.com/homedetails/1...57177344_zpid/

I think the problem with this one is that it's right on the corner of Rt 3A. That's a major turn-off for a lot of people looking in Duxbury (because they want the quiet, secluded, coastal charm that the town generally offers). At least that's my best guess. I didn't look at interior photos because the zillow link didn't have them and I was too lazy, so maybe there are other reasons.

[newenglandgal123]

Wow, this flipper made out like a bandit on a tiny house in Weymouth. Bought in March of 2023 for $321K, just sold for $575K! https://www.zillow.com/homedetails/2...56624523_zpid/

[UNC4Me]

Originally Posted by newenglandgal123

Wow, this flipper made out like a bandit on a tiny house in Weymouth. Bought in March of 2023 for $321K, just sold for $575K! https://www.zillow.com/homedetails/2...56624523_zpid/

They sure did since there’s no mention of new mechanicals and the roof is “newer” not new. No way did they put even 100k (and maybe not even 50k) into a home that small especially since the finishes are builder grade. This is why I bought the pig and applied my own lipstick!

[msRB311]

It's a cute house. If people are paying 1M for basic homes in Duxbury I can see why someone might settle on a 575k house in weymouth. Not a bad commute to Boston either.

[matrix5k]

Originally Posted by newenglandgal123

Wow, this flipper made out like a bandit on a tiny house in Weymouth. Bought in March of 2023 for $321K, just sold for $575K! https://www.zillow.com/homedetails/2...56624523_zpid/

I'm surprised they got a house for only 321k in 2023. Are flippers typically developers who do the labor themselves or are they your average Joe who hires out contractors? Seems like a good side hustle.

[newenglandgal123]

Originally Posted by matrix5k

I'm surprised they got a house for only 321k in 2023. Are flippers typically developers who do the labor themselves or are they your average Joe who hires out contractors? Seems like a good side hustle.

Flippers can be both...contractors who buy and fix it themselves or average joe who hires out. Seems like whoever this one was really knows their stuff based on the fact that they turned a $250K profit within about 3 months time!